Hyundai Construction Wins Redevelopment Project in Gwangcheon-dong, Gwangju... Approaching 5 Trillion KRW in Cumulative Orders

Introducing the First D.H Brand in Gwangju... Worth 1.766 Trillion KRW

Gwangcheon-dong Redevelopment Master Plan in Gwangju (Provided by Hyundai Engineering & Construction)

[Asia Economy Reporter Kim Hyemin] Hyundai Engineering & Construction is launching its first 'THE H' brand in Gwangju. This follows its selection as the construction company for the Gwangcheon-dong redevelopment project in Gwangju. With consecutive contract wins, the company is approaching a cumulative contract amount of 5 trillion won this year.

According to Hyundai Engineering & Construction on the 16th, the Gwangcheon-dong Redevelopment Association in Gwangju held a general meeting the day before to select a construction company. A vote was conducted among association members on Hyundai Engineering & Construction’s sole bid as the preferred negotiator, resulting in Hyundai Engineering & Construction being chosen as the final construction company.

Considered the largest redevelopment project in Gwangju, the Gwangcheon-dong redevelopment is a mammoth-scale project to build a total of 5,006 households from two basement floors to 33 floors above ground in the area of 670 Gwangcheon-dong, Seo-gu. The project cost alone amounts to 1.766 trillion won.

Hyundai Engineering & Construction proposed the complex name 'THE H LUCEDOR' for this site. This marks the first application of the 'THE H' brand in Gwangju. In collaboration with the global architecture and design firm SMDP, they designed a 60-meter-long gate symbolizing the image of the Mudeungsan Valley, along with five types of exterior designs representing Gwangju’s history and nature. They plan to create two sky bridges and nine rooftop gardens, as well as a massive green space equivalent to 5.7 soccer fields and a 2 km walking trail.

With this contract win, Hyundai Engineering & Construction has achieved a cumulative urban maintenance contract amount of 4.9585 trillion won this year, nearing the 5 trillion won milestone. Compared to 1.5386 trillion won in 2020 and 1.2919 trillion won last year during the same period, this represents a steep growth trajectory. It is also not far from last year’s cumulative contract amount of 5.5499 trillion won. Hyundai Engineering & Construction aims to join the '5 trillion club' in the first half of the year and renew its record for the highest performance for three consecutive years.

A Hyundai Engineering & Construction official stated, "We are focusing on solid contract wins by selectively securing large-scale landmark projects nationwide with excellent business feasibility. Through our high-end brand THE H and specialized urban maintenance personnel, we will do our best to ensure that the Gwangcheon-dong redevelopment project can reemerge as the center of Gwangju."

This content was produced with the assistance of AI translation services.